When I raced I was not a wheel to wheel racer. When you can’t physically see your opponent it is difficult to know where you stand against your opponent. Oftentimes we would go out and run the same course, the same way and get the same result.
Not only should a goal you set be very specific. You should also know the path and be able to measure your goal.
Creating Measurable Goals
If you want your goal to be measurable you need to either be able to quantify your goal, or have a path laid out for your goal.
Measurable Goals for Weight Loss
Weight loss is the easiest goal to measure. You say to yourself, I want to weight less so I need to lose 20 pounds. The reason that goal isn’t specific enough is because how can you measure that goal?
However if you said, I am going to lose 20 pounds in 2 months… now you have a measurable goal.
Think of it like this: When you have a quantity and a time stamp you can then break your goal down to bit-sized pieces.
Basically your 20 pound in 2 month goal turns into a 5.3 ounce loss in a day. ANYONE can lose 5.3 ounces in a day. So anyone can lose 20 pounds in a month.
Measurable Wealth Goals
I want to be a billionaire is probably not a good wealth goal. Not because being a billionaire is bad, but because there is no time-frame. The idea of a good wealth goal would be to start with a fixed goal. I am going to save X from each payday. I will then use half of that savings to build a retirement, and I will use the other half to work toward purchasing assets.
That number is hard to define because it depends on the person. So if your goal was to be a billionaire, it would look like this. I am going to be a billionaire in 40 years. I will have accumulated this much is “passive savings” then my active savings I will use to purchase this amount of real estate, stock, bonds etc, and my net worth will then be $1,000,000,000.
To make it achievable you then create the action plan.
Don’t think this is the end… I will talk more about goals.
Thanks for reading,